PR, 9/18, Ayelen Vein infill drilling
Silver Standard and Esperanza Announce Further High-Grade Results at San Luis
Tuesday September 18, 5:00 am ET
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2007) - Silver Standard Resources Inc. (TSX:SSO - News; NASDAQ:SSRI - News) and Esperanza Silver Corporation (TSX VENTURE:EPZ - News; PINK SHEETS:ESPZF - News) are pleased to announce more results of ongoing diamond drilling at the San Luis high-grade gold and silver joint venture property in central Peru.
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Infill drilling on the Ayelen Vein continues to confirm high-grade gold and silver mineralization and to define the mineralization before the commencement of an underground exploration program, which is planned to begin later this year, subject to receipt of permits. Significant drill results from the current program include:
- in drill hole A-SL-098, an angled hole drilled close to drill holes A-SL-016 and A-SL-018 (both of which intersected very high-grade values), a 26.2-foot interval averaging 2.05 ounces per ton gold and 27.2 ounces per ton silver (8.0 meters averaging 70.3 grams per tonne gold and 932.0 grams per tonne silver).
- in drill hole A-SL-087, an angled hole drilled beneath hole SL-06-085 toward the north end of the vein system, a 67.6-foot interval averaging 0.21 ounces per ton gold and 9.0 ounces per ton silver (20.6 meters averaging 7.2 grams per tonne gold and 309.1 grams per tonne silver).
High-grade mineralization within the Ayelen vein has been identified over 650 meters of strike length and exploration is continuing to define the structure to the south. The high-grade mineralization has been found for a depth of up to 225 meters, from below the top of the ridge down to the 4,350 meter level. Recent infill drill results for the Ayelen Vein are summarized below:
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San Luis Project - Selected Diamond Core Drill Results - September 2007
AYELEN VEIN
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Gold Silver
Drill From To Interval Gold Silver Interval (oz/ (oz/
Hole (meters) (meters) (meters) (g/t) (g/t) (feet) ton) ton)
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A-SL-085 35.3 41.8 6.5 5.2 174.5 21.3 0.15 5.1
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A-SL-087 42.6 47.9 5.3 5.5 178.5 17.4 0.16 7.9
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70.3 90.9 20.6 7.2 309.1 67.6 0.21 9.0
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A-SL-088 53.8 60.4 6.6 11.2 316.8 21.7 0.33 9.2
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103.2 107.5 4.3 7.6 231.0 14.1 0.22 6.7
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A-SL-089 78.5 82.6 4.1 2.3 126.6 13.5 0.07 3.7
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A-SL-093 148.9 152.7 3.8 3.3 155.0 12.5 0.10 4.5
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A-SL-094 183.9 188.6 4.7 1.16 116.0 15.4 0.03 3.4
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A-SL-095 118.8 119.6 0.8 8.64 130.0 2.6 0.25 3.8
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A-SL-098 70.4 78.4 8.0 70.3 932.0 26.2 2.05 27.2
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A-SL-100 116.4 119.2 2.8 1.23 46.1 9.2 0.04 1.3
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A-SL-101 101.4 102.9 1.5 1.09 41.5 4.9 0.03 1.2
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A-SL-102 240.5 250.6 10.1 6.5 240.2 33.1 0.19 7.0
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Intervals refer to core length rather than true thickness which is to be
determined.
Work is continuing on mapping, rock sampling and prospecting new areas of the property to locate the sources of the stream sediment anomalies previously identified on the joint venture's 250 sq. km (96 sq. mile) block. In addition, studies will be undertaken on the other known veins to establish specific drill-target areas.
Joint Venture Interests
Silver Standard holds a 55% interest in the San Luis joint venture and Esperanza 45%. Silver Standard has elected to increase its interest in the joint venture to 70% by funding costs required to complete a feasibility study. Thereafter, Silver Standard has the right to increase its interest to 80% by funding the property through to production. |
